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    FAQ-CACTUS

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    19 views4 pages

    Faq Cactus

    Uploaded by

    msarker.0036

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    © All Rights Reserved
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    of 4

    CACTUS Semiconductor Startup Pool (March 25, 2024)

    FAQs:
    1. What do CACTUS Semiconductor Startup Pool will do? What type of business is this?

    CACTUS Materials, Inc (CACTUS) is a private corporation that develops next generation
    detectors and lasers applicable in LiDAR, optical communications, and defense markets.
    CACTUS is a R&D and manufacturing fab company. BIN is partnering with CACTUS to help
    them IPO in return of discounted shares.

    2. How much money do I need to invest?

    10,000 of CACTUS shares are offered as pod, with BIN investors will get 1:1 bonus offering.
    Current CACTUS share price is $2.5. With bonus offering, BIN investors will get same number
    of shares at $1.25/share. That results in pod price of $12,500. To accommodate retail investors,
    each pod can be shared amongst 3 investors, resulting in each member getting 1/3rd pod at
    $4,167. A member can buy as many shares as they want, but minimum is 1/3rd pod. Bigger
    investors can work with CACTUS with larger investment. BIN is also working to accommodate
    ROTH IRA investors through ROTH IRA Custodian process (still in progress).

    3. What if I’m interested but can’t afford the price of one share? Can I purchase fractional
    share?

    Yes, as stated earlier, you can share 1 pod with total of 3 members, each member will get 1/3 rd
    pod ownership.

    4. Will I get a discount if I want to invest a large amount?

    At this time, no discount is offered. BIN investors already received 50% discount on share price.

    5. Who can join this pool?

    Anyone who has a bank account in USA or can legally remit funds to this pool’s USA based
    account can join.

    6. How can someone deposit money for this pool?

    There are two processed in place:


    A. If you commit 1 or more shares:
    1. CACTUS will email you with an agreement to digitally sign. You should sign this
    document and send funds directly to CACTUS only if you are accredited investor.
    Their agreement has 15 criteria on who should consider themselves as accredited
    investors. If none of them applies to you, please go to process B below. Otherwise
    continue to next point 2.

    2. They’ll also email you with fund transfer instructions. Please follow their instructions
    carefully. As a backup, you can email a copy of the deposit screenshot to
    [email protected].

    3. Once that is completed, CACTUS will issue your shares through their custodian
    Carta to BIN. BIN will work as your custodian.

    4. BIN will send you another agreement between you and BIN as your custodian. That
    agreement will detail the profit sharing and other important details.

    B. If you commit less than 1 share and non-accredited members:


    1. BIN will send you an agreement as your custodian. That agreement will detail the
    profit sharing and other important details.

    2. Once you sign the agreement, BIN will send you bank details to initiate deposit to
    BIN’s bank account. We’ll message you with your own unique code, but if you
    already made the deposit we’ll reserve that code for you. If you are buying a
    fractional share at $4,167 and your code is 5, please deposit $4,167.05.

    3. The BIN’s bank info is here:

    Account Name: BINGOPSHOP LLC


    Account number: 1100019512248
    Routing Number: 263191387
    Account Type: Business checking
    Bank Name: Truist Financial
    Bank Address: 11161 Southern Blvd, Royal Palm Beach FL 33411, USA
    LLC Mailing address: 2355 Thomson Way, Wellington, FL 33414

    4. Send a screenshot of the deposit/copy of the deposit receipt to BIN’s email address
    [email protected]

    5. After we receive the screenshot and confirm with you, we will add you to the pool
    specific messenger group where you will get frequent updates and can clarify all your
    concerns.

    6. You will be provided with a BIN acknowledgement form and W9/W8BEN form to fill
    up, sign, and send back to our official email address at [email protected]. The
    information collected through these forms will be used to generate tax forms. Filling
    out these forms is a must. If we don’t receive these forms within a reasonable
    amount of time after your deposit is made, say approximately 30 days, your funds
    may be forfeited. If you already provided these forms as part of your other
    investment with BIN, please let us know after you make the deposit so that we can
    copy the information.

    We encourage the investors to send the exact amount in a single bank transaction (wire). No
    installments or fractional deposits are allowed. It’s almost impossible to track down identical
    deposits from multiple investors and it defeats the purpose of unique code.

    7. What will be my legal documentation about this investment with BIN? How can I be
    protected if a legal issue arises?

    You’ll be provided with an agreement either through CACTUS or BIN or both. If you buy 1 or
    more pods, you’ll receive two agreements- from CACTUS and from BIN. If you invest less than
    1 pod, you’ll receive one document from BIN. That document will be your proof of ownership.

    8. What is the fee structure?

    Irrespective of your deposit directly to CACTUS or to BIN, BIN will always be your custodian and
    will hold your shares. When one of the exit triggers occur, BIN will sell the shares or exit out the
    pool and distribute your investment and profit. The profit split is 80-20, where you’ll get 80% of
    profit and BIN will get 20% of the profit.

    9. How do you manage transparency to the members

    So far, the following are maintained for the sake of transparency. We may add more as we
    grow.
    - Money deposits can be tracked via bank transfer receipt.
    - All transactions are linked with an LLC bank account.

    10. What's the exit criteria for the investors? When and how can the funds be withdrawn?

    There are three potential exit strategies: IPO, SPAC, and/or merger and acquisition. In case of
    IPO, BIN will exit out when the stock signals on our favor. In other cases, BIN might negotiate
    the terms and prices. Since this is a startup, the lock-up period may be 3-5 years, largely
    depending on any of the exit criteria triggers, especially the IPO. It could be in 2 years or might
    take some more time. If the IPO take longer than anticipated time, CACTUS will consider giving
    the members dividends until IPO takes place. You should be prepared to be invested for 3-5
    years. If you want to exit out before BIN’s official exit, BIN will sell your share to another
    interested buyer, if there is a buyer. You’ll get your invested amount back, minus any fee or
    charges occurred at BIN.

    10. How long this pool will run?


    The pool is open for a very short period of time. You need to make commitment by March 31,
    2024 and reserve your spot. We’ll begin collecting the funds by then. Funds may be deposited
    beyond March 31st , but no later than April 5th 2024, unless explicitly extended by CACTUS.

    12. Tax related clarification

    BIN will issue 1099 form for both types of investors when we exit out.

    13. What would happen if something happened to me?

    You can designate a beneficiary that will have the power of attorney in your absence. You’ll
    need to provide your beneficiary’s legal name, date of birth, mailing address, email address,
    SSN, and a working phone number for us to verify their identity in such case.

    14. I need more clarification

    Please ask in the messenger group. We will update this FAQ to keep up with all other common
    questions.

    Disclaimer: BIN reserves the right to decline any investor’s investment or revoke their shares at
    the discretion of the fund manager or account managers. If an investor’s share is revoked, BIN
    will refund their fund after deducting all costs and profit sharing, at the time of revocation, and
    will apply all conditions in Exit Strategy section of this FAQ. BIN’s decision in these cases will be
    considered final. BIN will reserve the right to make all investment related decisions. If fund is
    collected for a specific pool and the pool is not performing as expected, BIN may move the
    money permanently/temporarily in a more profitable pool with/without the investor’s consent.
    BIN’s intention is to maximize the profit for its investors. Your decision to invest in the pool is
    your conformation with the terms and conditions of this FAQ.

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